Business News

Another Good Jobs Report

The US economy added 248,000 jobs in September.  The lower than expected August number was revised up by 40,000 making it almost 200,000 for the month.  The unemployment rate dropped to 5.9%. (Fox Business News)

New orders for manufactured goods dropped 10.1% in September, the largest drop since 1992. Stripping out transportation orders, new orders were down a more modest 0.1%.The U.S. manufacturing sector continues to expand, although growth may be moderating. (Reuters)

Mortgage applications to purchase a home are 11% lower than they were one year ago and are running about 30% lower than historical norms. With investors pulling back, the market is shifting more towards traditional and first-time buyers who rely on mortgages to purchase a home.  (CNBC)

Get ready to see peanut butter in a lot more places. This years harvest will jump 19% to 4.97 billion pounds creating an oversupply and driving down prices. Prices for the creamy spread dropped for five straight months through July, when they reached the lowest level since 2011. Creamy peanut butter was about $2.42 a pound in August, 11% cheaper than a year earlier. (Bloomberg)

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